Through our work on green and social bonds, we shed light on the practices, policies, programs and investments needed to address our changing climate and society’s inequities and injustices. Below are some of the questions we often hear from clients. Don’t see your question listed? Contact us — we’re happy to help!
There are two stages of Climate Bonds verification:
Pre-issuance: Kestrel analysts conduct an external review in accordance with CBI standards. Our work is presented in a Verifier’s Report which is reviewed by the client for accuracy. Kestrel acts as the liaison with CBI staff to facilitate Certification of the bonds by the Climate Bonds Standard Board.
Post-issuance: Kestrel will verify the use of proceeds and prepare the first annual report, within 24 months of issuance. We often work with the issuer to establish an efficient and replicable reporting process. For US municipal bonds, CBI typically accepts the standard continuing disclosures on EMMA as meeting the ongoing reporting requirements.
Kestrel has worked with state and local governments, non-profits and corporate entities in a wide variety of sectors across the US and Europe, including: biofuel and bioenergy producers, material recovery facility developers, and renewable energy generation facilities. We are the market leaders for external reviews in US Public Finance.
For more about the public agencies, financial advisory firms, underwriters and conduit issuers we work with, view Our Clients.